Simple Interest
Compound Interest
Mortgages
Stat Terms
Mixed Review
100
What is simple interest?
The formula I = Prt finds this quantity.
100
What is $40?
Find the simple interest on $400 at 5% for 2 years.
100
What is $1,416?
Find the future value of $1,200 at 6% simple interest for 3 years.
100
What is 5%?
Find the rate if $90 interest is earned on $600 for 3 years.
100
What is $120?
Find the simple interest on a $2,000 loan at 8% for 9 months.
200
What is previously earned interest?
In compound interest, interest is calculated on principal plus this.
200
What is $605?
Find the amount for $500 at 10% compounded annually for 2 years.
200
What is monthly compounding?
Which earns more over the same time: annual compounding or monthly compounding?
200
What is about $1,061.36?
Find the amount for $1,000 at 6% compounded quarterly for 1 year.
200
What is the compound-interest amount?
After 3 years at the same positive rate, which is larger: simple-interest amount or compound-interest amount?
300
What is interest?
A mortgage payment usually includes principal plus this charge.
300
What is 0.5% or 0.005?
Convert 6% annual interest to the monthly rate used in a mortgage formula.
300
What is 360?
A 30-year mortgage with monthly payments has this many total payments.
300
What is decreases?
If you increase the down payment, the loan principal usually does what?
300
What is interest?
For a fixed-rate mortgage, which part of the monthly payment is usually larger at the beginning: interest or principal?
400
What is population?
The entire group you want to study.
400
What is sample?
A subset of the population.
400
What is a statistic?
A numerical summary of a sample.
400
What is qualitative/categorical data?
Data such as eye color or favorite music genre are this type of data.
400
What is bias or sampling bias?
A study with voluntary responses often has this problem.
500
What is the same?
Compare simple and compound interest on $1,000 at 5% for 1 year, compounded annually: same or different?
500
What is simple random sampling?
Name one sampling method that gives each individual an equal chance of selection.
500
What is 12?
At 4% annual interest compounded monthly, there are this many compounding periods per year.
500
What is systematic sampling?
Surveying every 10th student entering the library is this sampling method.
500
What is decreases?
If you borrow $150,000 instead of $180,000 at the same rate and term, the monthly payment generally does what?
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